Business Document Work Process Management (BPO) Market: Shares, Strategies, and Forecasts Worldwide, 2014 to 2020 - A New Research Report at ReportsnReports.com

Business Document Work Process Management (BPO) market size at $6.5 billion in 2013 is anticipated to reach $13.6 billion by 2020.

Dallas, Texas (PRWEB) August 12, 2014

Business Document Work Process Management (BPO) market significant growth is driven by the transition to electronic documents and the continuing need to merge the information contained in paper documents with server information, smart phone information, and social media information. Cloud computing market penetration is providing a thrust for creating electronic formatting of information contained on paper.

Work document processing represents digitization of paper documents. The techniques for document management, content management of unstructured data can be applied to the paper documents once they are digitized. Analytics can then be applied to the information contained in the documents. From time to time the documents can be input into a database and handled as structured data in tables.

Outsourcing services provide solutions for business document work process management (BPO). As more electronic forms are created, documents are becoming increasingly electronic. They still need to be used in a variety of ways. Medical records provide some significant challenges to protect patient identity.

Scanners have been used to convert paper documents to electronic formats. Production level scanners are rated at 8,000 pages per day. Optical Character Recognition (OCR) is the term applied to re-purposing functions. Hardware that is necessary to make document work process automation possible has become commoditized. Software and services are used to implement a solutions-based competitive environment.

Document work process market driving forces relate to the shift to IT integrated systems management of electronic information. Paper and electronic document processing is set to move to website and electronic document management.

Paper document imaging is one driving force in the market. Managed print services and electronic process management are aspects of electronic document processing. Forms recognition, data extraction, and data release into upstream systems represent the future of the document work process industry.

Scanning is referred to as digital imaging, a process where a paper document is turned into an electronic image or electronic characters. Digital imaging performs optical character recognition (OCR) processes on digital images following scanning.

Paper is part of the workflow, sure to be the source of major pain points whenever it is there. Workflow that has paper involves complexity and prevents modernization of process. The ability to perform analytics on unstructured data depends on digitization of the information. This Is leading efforts to digitize all information.

Mountains of paperwork, lost data and wasted resources are being overcome with document work process automation. Manual, paper-heavy processes are all being modernized to digital upgrades. When this pain from paper in the middle of a process is evident, then a workflow discovery is in order. Most places are working to discover how to replace paper with digital information.

According to the report, “Business document work process management (BPO) supports providing a platform for use by IT. Systems are implemented in a market marked by converged paper and electronic information that needs to be converted to electronic data. Business document work process (BPO) sits on widely dispersed resources that are heterogeneous. IT resources are heterogeneous because each business seeks to utilize technology that is best of breed for solving the particular set of competitive situations they address. This creates a variety of solutions in each business.”

With smart phones beginning to get significant uptake all over the world. With smart phone and tablet ubiquity, electronic documents are rapidly replacing paper documents. Electronic documents are expected to be replacements for all paper.

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